Title
Public Hearing for 2025 Restated LDFA Development and Tax Increment Financing Plans
Body
Whereas, the City of Rochester Hills (the “City”) previously established the City of Rochester Hills Local Development Finance Authority, Oakland County, Michigan (the “LDFA”) pursuant to Act 281, Public Acts of Michigan, 1986, as amended and recodified by Act No. 57, Public Acts of Michigan, 2018, as amended (collectively, the “Act”), for the purpose of facilitating projects that foster new economic growth and development and lead to the creation of new employment opportunities within the City; and
Whereas, pursuant to the Act, the LDFA and the City Council of the City (the “Council”) adopted the LDFA’s Development Plan and Tax Increment Financing Plan, and, subsequently, the LDFA’s Restated Development Plan and Tax Increment Financing Plan (collectively and as amended, the “Plan”); and
Whereas, the Plan is expected to expire by its terms on December 31, 2025; and
Whereas, it is necessary to extend and update the Plan in order for the LDFA to continue making improvements described in the Plan as well as new, additional improvements within the Authority District defined and described in the Plan (collectively, the “Improvements”); and
Whereas, on August 14, 2025, the LDFA approved and presented to the City a proposed 2025 Restated Development Plan and Tax Increment Financing Plan (the “2025 Restated Plan”) extending the LDFA and the Plan and providing for the Improvements; and
Whereas, the LDFA recommended the 2025 Restated Plan for the Council’s approval and requested that the Council hold a public hearing on the 2025 Restated Plan and provide notice of such public hearing pursuant to the Act; and
Whereas, the City set and provided notice of, and on September 8, 2025, held a public hearing on the 2025 Restated Plan, in accordance with the provisions of the Act, which public hearing provided an opportunity for interested persons to be heard, and the City receiv...
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